证券代码：601727 证券简称：上海电气 编号：临 2025-042 上海电气集团股份有限公司 公司于 2025 年 7 月 22 日召开的董事会五届一百一十三次会议审 议通过《关于取消监事会并修订<上海电气集团股份有限公司章程> 及其相关附件的议案》，同意将本次取消监事会并修订《公司章程》 及附件事项提交公司股东大会审议。 关于取消监事会并修订《公司章程》及附件的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 为全面贯彻落实法律法规及监管要求，进一步提升公司治理水平， 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上 市公司章程指引》、《上海证券交易所股票上市规则》、《上海证券 交易所上市公司自律监管指引第 1 号——规范运作》等相关法律、法 规、规范性文件的规定，结合公司治理改革实际情况，上海电气集团 股份有限公司（以下简称"公司"）拟取消监事会，由董事会审核委 员会行使《公司法》规定的监事会的职权，对《公司章程》及附件《股 东大会议事规则》、《董事会议事规则》进行修订，并废止《监事会 议事规则》，具体 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海电气集团股份有限公司（以下简称"公司"）于 2025 年 7 月 22 日召开了公司董事会五届一百一十三次会议，会议审议同意如下 公司董事离任及高级管理人员变动事项： 证券代码：601727 证券简称：上海电气 公告编号：临 2025-040 上海电气集团股份有限公司 关于公司董事离任及高级管理人员变动的公告 一、董事、高级管理人员离任情况 | （一）离任的基本情况 | | --- | | | | | | | | | | | | 是否继续 在上市公 | 具体职务 | 是否存 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | | 离任时间 | | | | 原定任期 | | 离任原因 | 司及其控 | （如适 | 在未履 行完毕 | | | | | | | | | 到期日 | | | 股子公司 | 用） | 的公开 | | | | | | ...

上海电气集团股份有限公司 2025 年第一次临时股东大会 会议资料 二〇二五年八月 目 录 | 注 意 事 项 1 | | --- | | 1、上海电气自动化集团香港有限公司为 BROETJE-AUTOMATION GMBH | | 及其全资子公司提供 3 亿欧元担保额度的议案 2 | | 2、关于取消监事会并修订《公司章程》及其相关附件的议案 6 | 上海电气集团股份有限公司 2025 年第一次临时股东大会 注 意 事 项 为了维护全体股东的合法权益，保证大会顺利进行，根据《上市 公司股东会规则》及本公司《股东大会议事规则》，特制定本注意事 项。 1、本次大会公司设立大会秘书处，具体负责大会有关程序方面 的事宜。 2、董事会以维护股东的合法权益、确保大会正常秩序和议事效 率为原则，认真履行《公司章程》中规定的职责。 3、本次大会采取现场投票与网络投票相结合的表决方式。 4、本次大会审议的第 1 项议案为普通决议议案，根据相关法律 法规，须出席本次大会具有表决权股东 1/2 以上投票赞成才能通过； 本次大会审议的第 2 项议案为特别决议议案，根据相关法律法规，须 出席本次大会具有表决权股东 2/3 以上投票赞 ...

证券代码：601727 证券简称：上海电气 公告编号：临 2025-043 上海电气集团股份有限公司 关于召开2025年第一次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次 2025年第一次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 股东大会召开日期：2025年8月8日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 召开的日期时间：2025 年 8 月 8 日 14 点 00 分 召开地点：中国上海市浦东大道 2748 号上海电气培训基地报告厅 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 8 月 8 日 本次股东大会审议议案及投票股东类型 | 序号 | 议案名称 | 投票股东类型 | | --- | --- | --- ...

证券代码：601727 证券简称：上海电气 编号：临 2025-039 上海电气集团股份有限公司 该担保事项尚须提交公司股东大会审议。 监事会五届七十五次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海电气集团股份有限公司（以下简称"公司"）于 2025 年 7 月 22 日以通讯方式召开了公司监事会五届七十五次会议。应参加本次 会议的监事 3 人，实际参加会议的监事 3 人。会议符合《公司法》和 《公司章程》的有关规定。会议审议并通过以下决议： 关于上海电气自动化集团香港有限公司为 Broetje-Automation GmbH 及其全资子公司提供 3 亿欧元担保额度的议案 同意公司全资子公司上海电气自动化集团香港有限公司（以下简 称"自动化香港"）为 Broetje-Automation GmbH（以下简称"宝尔捷"） 及其全资子公司向 Airbus SAS（以下简称"空客"）提供 3 亿欧元担 保额度，有效期至 2031 年 9 月 1 日，担保期限不超过 74 个月，此担 保额度应在同时满足本担保事项 ...

证券代码：601727 证券简称：上海电气 编号：临 2025-038 上海电气集团股份有限公司 董事会五届一百一十三次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海电气集团股份有限公司（以下简称"公司"）于 2025 年 7 月 22 日以通讯方式召开了公司董事会五届一百一十三次会议。应参加 本次会议的董事 9 人，实际参加会议的董事 9 人。会议符合《公司法》 和《公司章程》的有关规定。会议审议并通过以下决议： 一、关于董鑑华先生不再担任公司董事的议案 因年龄原因，同意董鑑华先生不再担任公司董事职务。 表决结果：9 票同意，0 票反对，0 票弃权。 本议案已经公司 2025 年第二次提名委员会事前审议通过。 二、关于部分公司高级管理人员变动的议案 因年龄原因，同意董鑑华先生不再担任公司副总裁职务；因工作 变动，阳虹女士不再担任公司副总裁职务，傅敏女士不再担任公司财 务总监、董事会秘书、联席公司秘书职务。 因工作需要，同意聘任胡旭鹏先生担任公司董事会秘书，丘加友 先生担任公司副总裁，卫旭东先生担任公司财务 ...

Group 1 - The Guozheng Free Cash Flow Index decreased by 0.08% as of July 22, 2025, with mixed performance among constituent stocks, including Dongfang Electric and Zhejiang Construction Investment hitting the upper limit, while Shanghai Steel Union and others led the decline [1][3] - The Free Cash Flow ETF (159201) fell by 0.19%, with the latest price at 1.06 yuan, and it recorded a turnover rate of 2.85% with a transaction volume of 112 million yuan [1] - Over the past nine days, the Free Cash Flow ETF has seen continuous net inflows, with a maximum single-day net inflow of 94.76 million yuan, totaling 232 million yuan, averaging 25.79 million yuan in daily net inflow [1] Group 2 - As of June 30, 2025, the top ten weighted stocks in the Guozheng Free Cash Flow Index accounted for 57.97% of the index, including SAIC Motor, China National Offshore Oil, Midea Group, and Gree Electric [3] - The latest financing buy-in amount for the Free Cash Flow ETF reached 6.89 million yuan, with a financing balance of 26.45 million yuan [3] Group 3 - The top ten stocks by weight in the Free Cash Flow ETF include SAIC Motor (10.18%), Midea Group (9.28%), and Gree Electric (7.56%), with varying performance in terms of price changes [5]

Group 1: Project Overview - The Yarlung Tsangpo River downstream hydropower project has officially commenced, with a total investment of approximately 1.2 trillion yuan, aiming to construct five cascade power stations [1] - The project is expected to generate an annual electricity output of about 300 billion kilowatt-hours, which is three times that of the Three Gorges Project [2] Group 2: Industry Impact - The project is anticipated to significantly boost demand for engineering machinery due to its large scale and the challenging geographical conditions, benefiting leading companies in the industry [2] - Major suppliers of hydropower equipment in China include Dongfang Electric, Shanghai Electric, and Harbin Electric, with Dongfang Electric achieving a 100% localization rate for 1 million kilowatt generator sets [2] - Central state-owned enterprises involved in hydropower engineering design and construction, such as China Power Construction Corporation and China Energy Engineering Corporation, are expected to be the first beneficiaries of the project [2] Group 3: Related Sectors - The high-altitude and complex geological conditions of the project will drive the demand for high-performance engineering machinery, favoring industry leaders [2][3] - The cement sector is likely to experience a new wave of growth due to the project, with companies like Tibet Tianlu and Huaxin Cement dominating the local market [3] - The commencement of the project is expected to significantly increase the demand for explosives in Tibet, benefiting companies with production capacity and business layout in the region, such as Gaozheng Minbao and Yipuli [3]

Investment Rating - The report maintains a "Recommended" investment rating for the photovoltaic industry [1]. Core Viewpoints - The Yarlung Zangbo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, is expected to significantly enhance electricity supply and contribute to carbon neutrality goals. The project will utilize abundant hydropower resources and promote the development of solar and wind energy in the surrounding areas [3]. - The project has an installed capacity of nearly 70 million kilowatts and an annual power generation capacity of 300 billion kilowatt-hours, which can meet the annual electricity needs of 300 million people and replace 90 million tons of standard coal, reducing carbon dioxide emissions by 300 million tons [3]. - The project is anticipated to strengthen the synergy between computing and electricity, benefiting the AIDC computing power industry chain [3]. Summary by Sections Project Overview - The Yarlung Zangbo River downstream hydropower project involves the construction of five cascade power stations and is expected to take about 10 years to complete, with production anticipated to start after 2035 [3]. - The project will enhance the utilization of "West-to-East Power Transmission" and support the national strategy of "East Data West Calculation" [3]. Investment Insights - The total investment of 1.2 trillion yuan may be adjusted upwards, with the investment in power transmission and transformation estimated to reach between 189 billion to 315 billion yuan [3]. - The report suggests that the actual investment may exceed initial estimates due to construction difficulties and uncertainties related to interest rates [3]. Beneficiaries in the Industry - The hydropower equipment supply chain is expected to benefit, with key players including Dongfang Electric, Shanghai Electric, and Harbin Electric, among others [3]. - The report highlights the stable demand for high-voltage transmission equipment and identifies major suppliers such as State Grid NARI, China XD Electric, and others as potential beneficiaries [3]. - The GIL (Gas Insulated Transmission Line) segment is entering a long-term growth cycle, with companies like China XD Electric and Pinggao Electric expected to benefit from the Yarlung Zangbo project [3]. Investment Recommendations - The report recommends focusing on the hydropower equipment and high-voltage equipment supply chains, specifically mentioning companies like Dongfang Electric, Shanghai Electric, and State Grid NARI [3]. - It also suggests monitoring the AIDC industry chain, including companies like Megmeet and Jinpan Technology [3].

Core Viewpoint - Shanghai Electric Group has successfully launched the world's first large-scale green methanol production project that integrates wind power and biomass gasification, marking a significant step towards achieving China's carbon neutrality goals and transforming the energy structure [3][10][39]. Group 1: Project Overview - The project, located in Taining City, Jilin Province, has entered the trial operation phase and produced its first batch of qualified green methanol on July 14, 2025 [3][33]. - The project utilizes several core technologies developed by Shanghai Electric, including pure oxygen pressurized biomass fluidized bed gasification and CO2-rich methanol synthesis [3][12]. - The total investment for the project is approximately 5.6 billion yuan, with a planned annual production capacity of 250,000 tons of green methanol [17][19]. Group 2: National Strategy Alignment - The project aligns with national strategies aimed at promoting green and low-carbon development, as emphasized in the 20th National Congress report and the "14th Five-Year" modern energy system plan [4][10]. - The project is a practical implementation of the government's push for renewable energy and green hydrogen integration, contributing to the country's dual carbon goals [4][5]. Group 3: Technological Innovation - Shanghai Electric has achieved a breakthrough in the integration of wind power and biomass gasification for green methanol production, which has not been industrially applied before [18][19]. - The project represents a complete closed-loop from research and development to production and application, showcasing Shanghai Electric's capabilities in the green hydrogen and methanol industry [24][39]. Group 4: Industry Impact - The successful launch of the project is expected to enhance the competitiveness of Taining City in the new energy sector and attract more investments in renewable energy [12][19]. - The project is seen as a model for the green methanol industry, providing a comprehensive solution for energy structure transformation and contributing to the global low-carbon transition [12][39]. Group 5: Future Plans - Shanghai Electric plans to expand the project to include a second phase, aiming to build a demonstration production line for 200,000 tons/year of green methanol and sustainable aviation fuel [39][40]. - The company is committed to developing a comprehensive green energy ecosystem, including the establishment of green methanol refueling stations and promoting its use in fuel cells and heavy-duty vehicles [39][40].